MarineMax, Inc. (NYSE:HZO) Receives $30.80 Consensus PT from Analysts

MarineMax, Inc. (NYSE:HZO) has received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $30.80.

A number of research firms have issued reports on HZO. National Bank Financial set a $35.00 price objective on shares of MarineMax in a report on Friday, January 30th. Zacks Research raised shares of MarineMax from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. Loop Capital started coverage on shares of MarineMax in a research report on Monday, December 22nd. They issued a “buy” rating and a $29.00 price target for the company. B. Riley Financial reiterated a “buy” rating and issued a $29.00 price target (up from $27.00) on shares of MarineMax in a research note on Friday, January 30th. Finally, Wall Street Zen raised MarineMax from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd.

MarineMax Stock Down 3.6%

HZO stock opened at $25.40 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.19 and a quick ratio of 0.29. The stock has a market capitalization of $559.65 million, a price-to-earnings ratio of -9.48 and a beta of 1.66. The business’s fifty day moving average price is $28.30 and its two-hundred day moving average price is $26.17. MarineMax has a fifty-two week low of $16.85 and a fifty-two week high of $32.00.

MarineMax (NYSE:HZO) last announced its earnings results on Thursday, January 29th. The specialty retailer reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.09). MarineMax had a negative net margin of 2.46% and a positive return on equity of 1.13%. The business had revenue of $505.18 million during the quarter, compared to the consensus estimate of $481.67 million. During the same period in the previous year, the firm posted $0.17 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. On average, equities analysts anticipate that MarineMax will post 2.41 earnings per share for the current year.

MarineMax declared that its board has approved a share buyback plan on Wednesday, March 4th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the specialty retailer to buy up to 15.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On MarineMax

Hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its position in shares of MarineMax by 54.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,056 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 374 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in MarineMax by 52.7% in the second quarter. PNC Financial Services Group Inc. now owns 1,351 shares of the specialty retailer’s stock valued at $34,000 after acquiring an additional 466 shares during the last quarter. MTM Investment Management LLC bought a new position in MarineMax in the second quarter valued at approximately $42,000. Russell Investments Group Ltd. raised its position in MarineMax by 93.5% during the third quarter. Russell Investments Group Ltd. now owns 1,672 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 808 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its position in MarineMax by 12.8% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 5,008 shares of the specialty retailer’s stock valued at $126,000 after purchasing an additional 567 shares in the last quarter. 92.85% of the stock is owned by institutional investors.

MarineMax Company Profile

MarineMax, Inc is a publicly traded company on the New York Stock Exchange under the ticker HZO and is one of the largest recreational boat and yacht retailers in the United States. The company markets new and used motor yachts, sailing yachts, sport boats and personal watercraft, acting as an authorized dealer for leading manufacturers. In addition to boat sales, MarineMax provides service and maintenance, parts and accessory sales, training and education, and marina operations.

Operating through a network of sales centers, service facilities and marinas, MarineMax serves coastal and inland markets across the continental U.S.